Credit Suisse has taken a majority stake in its Chinese securities joint venture, granting it control for the first time over its business with the troubled Founder Group conglomerate.
The Swiss bank joins a handful of other financial institutions taking advantage of an expedited opening of China’s financial markets, after years of slow, frustrating developments.
Under pressure from the US to allow more foreign participation in domestic investment banking, asset management and insurance, China’s regulators have sped up reforms over the past two and a half years.
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